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yes that's correct, you can use that option also.
difference is, the system will write 1 file with the buffer content (if it is full) to you FTP server.
You will get a list like :
Syslog1
Syslog2
...
and so on, with all messges.
While on a syslog server the messages will be more easyly readable and seachable.
Another advantage is that you can filter syslogs on severety.
The buffer on the othe hand will log virtually everything.

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